The Phrase "In Our Opinion" Indicates That

question 58

Multiple Choice

The phrase "in our opinion" indicates that

• A)the auditor performed the audit on a test basis.
• B)the auditor's judgment can be relied upon.
• C)the auditor relied on his or her knowledge to perform the audit.
• D)there may be some information risk associated with the financial statements.

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Definitions:

Old-Old

Adults aged 75 to 84, who typically live independently but often experience some physical and mental impairment.

Olfactory Loss

The partial or complete inability to detect or perceive odors, which can significantly impact taste and quality of life.

Deteriorating Health

A decline in physical or mental health over time, which may result from various factors including aging, disease, or unhealthy lifestyle choices.

Cognition

The mental action or process of acquiring knowledge and understanding through thought, experience, and the senses.